Today HSBC confirmed its intention to launch a digital asset custody solution in 2024. We reported last month that it was hiring staff. HSBC’s offering will target institutional clients investing in tokenized securities, but not cryptocurrency.
The bank is partnering with Swiss custody technology firm Metaco and will use its Harmonize custody and orchestration solution.
HSBC, one of the world’s largest custodians, holding $9.1 trillion in custody at the end of 2022. It sees the custody offering as complementing its other digital assets solutions. This includes HSBC Orion for bond tokenization and issuance and the recently announced gold tokenization solution.
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